Warner Bros. Discovery (NASDAQ:WBD) stock is back in focus today, after the media giant's board of directors unanimously rejected a $108.4 billion hostile takeover bid from Paramount Skydance (NASDAQ: PSKY), noting the company failed to provide financing assurances. This rejection reaffirmed Netflix Inc's (NASDAQ:NFLX) $72 billion buyout offer as the stronger option.
WBD is down 0.4% to trade at $28.79 at last glance, on track for its third-straight daily loss. Nevertheless, the stock still sports a 169% year-to-date lead, despite taking a breather from a Dec. 12, three-year high of $30.
Options are looking attractive for WBD. The security sports a Schaeffer's Volatility Index (SVI) of 27%, which stands higher than just 6% of all other readings from the past year.
At last check, 78,000 puts have been exchanged, which is double the average intraday amount. The January 2026 26-strike put is the popular active contract, followed by the weekly 1/26 26-strike put, with new positions opening at both.
Meanwhile, PARA was last seen down 4.8% to trade at $13.18, and has been carving a channel of lower higher since its Sept. 23, two-year-high of $20.86. NFLX is up 1.2% at $13.18 at last check, however, and now sports a 7.3% year-to-date lead.
